Educational discussion last night on US mortgage giants Fannie Mae and Freddie Mac with Bethany McLean, author of “Shaky Ground” and Bill Ackman of Pershing Square Capital. Here is a direct video link.
(For some weekend fun, anyone interested in the process of writing will no doubt enjoy the second interview with Salman Rushdie that starts about 33:00)
Featuring Senator David Vitter (R-LA); Senator Elizabeth Warren (D-MA); Marcus Stanley, Americans for Financial Reform; Phillip Swagel, University of Maryland; Moderated by Ylan Mui, Washington Post; and Mark Calabria, Cato Institute.
Here is a direct video link.
Elizabeth Warren joins the discussion at 36:35.
After 2 years of talking about raising rates, the Fed couldn’t even ‘risk’ a .25 increase. The markets are selling off on the revelation that central banks are out of ideas and the global economy is sinking. The German Dax (Europe’s ‘power house’ economy) is off another 3% today, taking its decline since April to just under 20%. Leading indicator?
Bill Fleckenstein, Fleckenstein Capital, analyzes what he believes is the problem with the Fed and provides his own market outlook. Here is a direct video link.
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